PNC Financial Services Group Inc. Grows Position in DTE Energy (NYSE:DTE)

PNC Financial Services Group Inc. boosted its holdings in DTE Energy (NYSE:DTE) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,084 shares of the utilities provider’s stock after acquiring an additional 6,797 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DTE Energy were worth $5,522,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. PBMares Wealth Management LLC raised its position in DTE Energy by 4.5% in the fourth quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 100 shares in the last quarter. ASB Consultores LLC raised its position in DTE Energy by 5.6% in the third quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 114 shares in the last quarter. Secure Asset Management LLC raised its position in DTE Energy by 1.7% in the fourth quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock worth $848,000 after acquiring an additional 127 shares in the last quarter. Executive Wealth Management LLC raised its position in DTE Energy by 0.6% in the fourth quarter. Executive Wealth Management LLC now owns 21,652 shares of the utilities provider’s stock worth $2,387,000 after acquiring an additional 128 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in DTE Energy by 3.2% in the fourth quarter. Raymond James Trust N.A. now owns 4,204 shares of the utilities provider’s stock worth $464,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays upped their target price on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. BMO Capital Markets upped their target price on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Morgan Stanley upped their target price on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their target price on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Finally, Scotiabank lowered their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $115.44.

DTE Energy Stock Performance

NYSE DTE opened at $110.57 on Wednesday. The business’s 50-day moving average price is $112.15 and its 200 day moving average price is $109.80. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44. The company has a market capitalization of $22.88 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. On average, research analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 annualized dividend and a yield of 3.69%. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the transaction, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,698 shares of company stock worth $1,702,444. 0.28% of the stock is owned by company insiders.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.